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Completion of Acquisition of Stake in Peanuts Holdings LLC

Jul. 24, 2018Sony Music Entertainment (Japan) Inc.

Sony Music Entertainment (Japan) Inc. (Headquarters: Chiyoda-ku, Tokyo; Representative Director: Michinori Mizuno; “SMEJ”) today announced that it has completed the indirect acquisition of 49% of the 80% equity interest in Peanuts Holdings LLC (“Peanuts”) held by DHX Media Ltd. (Headquarters: Nova Scotia, Canada; Executive Chairman and Chief Executive Officer: Michael Donovan; “DHX Media”). Upon the completion of this transaction, SMEJ now owns an approximately 39% equity interest in Peanuts. The acquisition was previously announced in the press release entitled “Signing of Definitive Agreement for the Acquisition of a Stake in Peanuts Holdings LLC” dated May 14, 2018.

Comment from Sony Music Entertainment (Japan) Inc., Representative Director and CEO, Michinori MizunoPEANUTS (Creator: Charles M. Schulz), widely recognized for the character “Snoopy,” has been beloved around the world since its creation in 1950. Interest in PEANUTS in Japan remains extremely high, with sales of products based on PEANUTS characters accounting for approximately 40% of global sales. Sony Creative Products Inc., a member of the Sony Music Group that operates the character products business, acquired exclusive domestic agent rights to PEANUTS in Japan in 2009, and ever since, has led Sony’s domestic licensing development and has generated substantial market growth, particularly in retail sales.In addition, the “Snoopy Museum” opened in Roppongi, Tokyo in April 2016, becoming the first official PEANUTS museum to be opened outside of the United States. In March of this year, the number of visitors surpassed one million, demonstrating the successful expansion of the character products business into entirely new areas. Going forward, we are delighted at the prospect of being able to convey the wonders of PEANUTS to as many people as possible, and in the future, we will continue to use the resources and intellectual property business expertise we have within the Sony Music Group, while working with the Schulz family as well as our joint venture partner DHX Media, led by CEO Michael Donovan, to achieve this goal.